Cheque A Month

Cheque-A-Month Deposits - Minimum deposit is $5,000.00

  1. The minimum term is 12 months and the maximum term is three years.
  2. Interest is calculated on the daily balance and paid monthly from the date of deposit until maturity.
  3. Interest can be paid by:
    • A cheque payable to the member
    • Transfer to a savings account with this Credit Union
    • Cheque payable to a third party
    • Compounded onto the deposit
  4. There are no account keeping fees on these account types. However, the Credit Union reserves the right to introduce account keeping or other fees and charges and where the Credit Union does so we will advise you in accordance with Section 2.11.
  5. Relevant government charges and fees will be debited to these account types.
  6. The interest rate is fixed for the term of the deposit
  7. Interest will be paid at least annually.
  8. We will not accept additions of money to the principle during the unexpired term of the deposit.
  9. A passbook will be issued at the time of receipt of each new deposit.
  10. Written notification of maturity will be given prior to maturity date.
  11. Funds will be reinvested at maturity, for the same term as previously invested, at the current interest rate, unless other written instructions have been received. Unless requested, a new passbook will not be issued for funds reinvested this may.
  12. Funds are not available until the date of maturity. Access prior to maturity may be approved in extreme circumstances where a written request is submitted outlining those circumstances. Such withdrawals will forfeit all accrued interest on the amount withdrawn is it takes place within one month of investment; otherwise interest will be calculated at the highest on-cal rate current at the time of withdrawal and will be paid at that time.

To find out more, view our current Interest Rates or Rewards Fees & Charges
or Disclosure Statements or contact one of our branches.